BGR Energy receives letter of intent from APGENCO

CHENNAI: Engineering, procurement and construction major BGR Energy Systems has received a Letter of Intent from the Andhra Pradesh Power Generation Corporation (APGENCO) for execution of a project valued at Rs 2,300 crore.

"The company has received a Letter of Intent from APGENCO for execution of Balance of Plant equipment including civil works for 1x800MW - Dr Narla Tata Rao Thermal Power Station, Stage-V (1X800 mw), unit-8 at Ibrahimpatnam, Krishna district, Andhra Pradesh on EPC basis," BGR Energy Systems said.

"The total lump sum price of the contract is Rs 2,299.87 crore," it said in a BSE notification.

The project period is 36 months, it said.

Shares of the company were trading at Rs 128.05 apiece, up 7.83 per cent over previous close on BSE.